Corient Private Wealth LLC Decreases Holdings in Element Solutions Inc (NYSE:ESI)

Corient Private Wealth LLC decreased its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 75.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,114 shares of the company's stock after selling 27,855 shares during the quarter. Corient Private Wealth LLC's holdings in Element Solutions were worth $232,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ESI. Park Avenue Securities LLC lifted its stake in shares of Element Solutions by 79.0% in the fourth quarter. Park Avenue Securities LLC now owns 60,612 shares of the company's stock worth $1,541,000 after buying an additional 26,753 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Element Solutions in the fourth quarter valued at approximately $423,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Element Solutions by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company's stock valued at $59,224,000 after purchasing an additional 29,253 shares during the last quarter. Principal Financial Group Inc. lifted its position in Element Solutions by 18.6% during the fourth quarter. Principal Financial Group Inc. now owns 74,709 shares of the company's stock worth $1,900,000 after buying an additional 11,702 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Element Solutions during the fourth quarter worth $433,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Trading Down 9.4 %

Shares of NYSE ESI traded down $1.89 during trading on Friday, reaching $18.24. The stock had a trading volume of 4,671,370 shares, compared to its average volume of 1,733,428. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The company has a market cap of $4.42 billion, a P/E ratio of 17.88, a PEG ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a fifty-two week low of $17.72 and a fifty-two week high of $29.78. The business's 50-day moving average price is $25.18 and its 200-day moving average price is $26.16.

Remove Ads

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. On average, equities research analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. Element Solutions's dividend payout ratio (DPR) is 31.37%.

Insider Transactions at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the transaction, the director now directly owns 109,100 shares of the company's stock, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ESI shares. Barclays reduced their price target on Element Solutions from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. KeyCorp started coverage on shares of Element Solutions in a report on Thursday. They set an "overweight" rating and a $29.00 price target for the company. Truist Financial assumed coverage on Element Solutions in a report on Tuesday, January 28th. They issued a "hold" rating and a $28.00 price objective on the stock. Finally, StockNews.com cut Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Element Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.